Bill · S. 2146· Senate(119-S-2146)
China Exchange Rate Transparency Act of 2025
- Introduced
- 6/24/2025
- Last activity
- 10/30/2025 — Placed on Senate Legislative Calendar under General Orders. Calendar No. 236.
- Sponsored by
- David McCormick
- Cosponsors
- - 0 - 1
- Introduced
- On Calendar
What this bill would do
This bill, known as the "China Exchange Rate Transparency Act of 2025," directs the Secretary of the Treasury to instruct the United States Executive Director at the International Monetary Fund (IMF) to advocate for greater transparency regarding the People's Republic of China's exchange rate policies. The mandate includes seeking enhanced surveillance of exchange rate arrangements, including indirect interventions through state-owned enterprises. It also calls for the inclusion of any significant divergences in exchange rate policies during IMF consultations. Furthermore, the bill requests that the performance of China as a stakeholder be considered during IMF governance and quota reviews. Finally, the act requires annual reports to Congress regarding these implementation efforts.
Yes· 3 of 9
Does this make trade with other countries easier?+3
More transparent exchange rate policies can reduce unfair trade advantages and create a more level playing field for international trade.
Does this strengthen ties with allied countries?+2
Strengthening transparency requirements through international institutions like the IMF can bolster the predictability of global economic alliances.
Does this favour talking over confrontation abroad?+2
The bill increases active diplomatic advocacy by the US within the IMF regarding China's economic policies.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Increased Economic Transparency: The bill seeks increased transparency regarding the exchange rate arrangements of the People's Republic of China, including potential indirect interventions through financial institutions or state-owned enterprises (Section 3(a)(1)). This could help provide a clearer picture of economic activities.
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Enhanced Global Economic Surveillance: By advocating for enhanced multilateral and bilateral surveillance by the IMF, the bill aims to better monitor exchange rate policies (Section 3(a)(1)).
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Improved Policy Consistency: The bill advocates for the inclusion of any significant divergences by the People's Republic of China from the exchange rate policies used by other major currency issuers during IMF consultations (Section 3(a)(2)).
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Accountability in Global Governance: The bill calls for stronger consideration of China's performance as a responsible stakeholder when the IMF evaluates quota and voting shares (Section 3(a)(3)).
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Monitoring of Financial Systems: The act seeks increased transparency regarding how the People's Republic of China uses Hong Kong's financial system to influence exchange rate arrangements (Section 3(a)(4)).
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Legislative Oversight: The bill requires the Secretary of the Treasury to submit annual reports to Congress describing specific actions taken and the extent of China's compliance (Section 3(b)).
Potential Negative Impacts for People
- No specific negative impacts or burdens are explicitly stated within the provided text of the bill.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- National Security And Foreign Policy
- Improves International Trade+3Improves Diplomatic Engagement+2Improves International Alliances+2
- Demographic And Interest Groups
- Good For Business Owners+1Good For Farmers+1
- Economy And Finance
- Improves Economic Growth+1Reduces Inflation+1
- Governance And Ideology
- Improves Government Transparency+1Increases Federal Power+1
- 10/30/2025
- Committee on Foreign Relations. Reported by Senator Risch with an amendment in the nature of a substitute. Without written report.
- Placed on Senate Legislative Calendar under General Orders. Calendar No. 236.
- 10/22/2025
- Committee on Foreign Relations. Ordered to be reported with an amendment in the nature of a substitute favorably.
- 6/24/2025
- Read twice and referred to the Committee on Foreign Relations.
- 1 Cosponsor added.
- Introduced in Senate
Catherine Cortez MastoDemocrat · Nevada